Americans owe more then 900 billion in student loans

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Americans owe more then 900 billion in student loans

  1. 1. Americans owe more then 900 billion in student loans.Average income for 90 billion Americans was 33,400 in 1988 and 33,400 in 2008.1 in 7 Americans (or 14.3% of the population) rely on food stamps.There are 6 million fewer jobs then in 2008. Of the 7.8 million jobs lost since 2008 only 1.8Mhave returned.American is on a path leading to the have and have not’s.Top 1% own 43% of financial assets 2/3 of income.Next 4% own 29% of financial assets, and 40% of income.Gasoline is up 91 cents since December, a cost to consumers of 125 Billion lost in discrecenaryincome.According to the Case-Shiller index, property values in 20 cities fell 3.3% from February 2010.11 Million Homes were underwater at the end 2010. One in 4 mortgages is in foreclosure.As mortgage rates rise we can see a double dip in the housing market.Rising debt, falling dollar, default, war, weak housing, stumbling markets, and rising interestrates all spell trouble for the U. S. economy.The last event affecting the market is baby boomers are retiring and drawing money out of theirIRA’s and 401k’s which will devalue the stock market. Combined with the government hitting 14trillion in debt, it makes it a nerve racking market.

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